Agendia, a Netherlands-based cancer diagnostics technology provider backed by corporates Debiopharm and Axa, has closed $35m in financing from investment funds managed by asset management firm Athyrium Capital Management.
Founded in 2003, Agendia has developed an in vitro device called MammaPrint that studies the gene expression profile of a tissue sample supplied by a lymph-node positive breast cancer patient to diagnose the risk of the disease spreading to more distant organs or lymph nodes.
The product has received regulatory approval in the US and European Union, and Agendia will channel the financing into its commercialisation in those markets. It also plans to boost research and development in order to enhance its big data capabilities.
Axa Private Equity Venture Funds part of the Axa insurance group, took part in a 2004 series A round of undisclosed size for Agendia alongside Gilde Investment Management, a subsidiary of investment firm Gilde Healthcare, and VC fund Global Life Science Ventures.
Gilde Healthcare and investment holding group Van Herk provided an undisclosed amount for the company in 2006, and were joined by Global Life Science and financial services firm ING for a $34m series D round in 2007 and a $23m series E in 2009.
Agendia’s last funding came in 2012 when it raised $65m in a round led by drug developer Debiopharm and backed by Van Herk, ING’s Corporate Investments unit, Gilde Healthcare, Breedinvest and Korys, the investment vehicle for the Colruyt family.